Shear Minerals Ltd. (SRM: TSXV), Northern Empire Minerals Ltd. (NEM:TSXV) and BHP Billiton today announced a third kimberlite has been covered on the Churchill Diamond Project. Drill hole number CD004 was designed to test a circular magnetic high anomaly measuring approximately 225m by 300m. To date all three targets drill tested have intersected kimberlite. Drill hole CD001 identified the Qaumallak (Lightning) kimberlite. CD002 and CD003 were drilled into the Kalluk-1 (Thunder) kimberlite.

The third kimberlite referred to as Kalluk-2 was drilled approximately 4 km east of Qaumallak. Drilling continues on the project. The current program is designed to test a minimum of 15 targets. Over 200 geophysical targets have been identified on the project to date. Additional drill results will be reported on a weekly basis. Kimberlite will be processed for diamond analysis by caustic fusion at the Saskatchewan Research Council. Microdiamond results will be released upon completion of the current drill program. Given the recent kimberlite discoveries, the Joint Venture partners have re-mobilized the crew to the property to resume detailed ground geophysical surveys over targets identified from last year's airborne geophysical program. Additional drill targets are anticipated to be generated from the ground geophysical program.

The 2003 program is under the supervision of Dean Besserer, P. Geol. of APEX Geoscience Ltd., a Qualified Person under NI 43-101. Mr. Besserer is responsible for all aspects of the projects supervision including Quality Assurance, Quality Control, and sample Chain of Custody. Drilling is being conducted by Aggressive Diamond Drilling of Kelowna, BC.

Shear has a 51% interest and is operator of all exploration programs. Northern Empire is earning into a 35% interest by incurring $750,000 in exploration expenditures. BHP Billiton has a 14% interest in Churchill and has also agreed to fund the costs of collection, sampling and processing the initial 200 tonnes of kimberlite.

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